‘Fear of Missing out’ Rally Could Continue with Thursday’s Earnings

Planes, trains and automobiles, as well as financial companies and consumer names, will join the earnings deluge Thursday.

Southwest Airlines, Union Pacific, General Motors, Blackstone, Travelers, Bank of New York Mellon, Unilever and Dunkin Brands are among the dozens of companies reporting second-quarter results before the opening bell. After the close, Starbucks, AT&T, Capital One, Visa, Schlumberger, Boston Beer and Chipotle report.

Stocks closed higher Wednesday, as a wave of positive earnings news helped send the S&P 500 to an all-time high of 2,173, and the Dow up 36 to a record high of 18,595, its seventh in a row. Nasdaq jumped 1 percent to 5,089, lifted by a rally in biotechs.

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.